Buy Tesla now, but expect volatility: Analyst

Investors rarely ever know what to expect from Tesla Motors stock. It reached a peak above $280 per share in September, only to plunge into the end of 2014.

It climbed back over $200 per share on Thursday in the midst of a minirally. Those who have bought into the electric carmaker "have to go along for that ride" in volatility if they're confident in its future, an analyst said on Thursday.

"If you can't handle that type of thing this stock is not for you," Adam Jonas, head of global auto research at Morgan Stanley, said on CNBC's "Squawk Alley."

Tomohiro Ohsui | Bloomberg | Getty Images

A man looks at a battery charger near a Tesla Motors Model S electric vehicle.

The firm recently cut its price target on Tesla from $290 per share to $280, citing the stronger U.S. dollar, lower oil prices and the carmaker's lower sales in China. Tesla jumped more than 2 percent into Thursday afternoon, but its current price still provides a strong buying opportunity, Jonas said.